Two organizations synonymous with the 2008 financial crisis could play vital roles in helping America's most vulnerable residents get off the streets. ThinkProgress reported that Fannie Mae and Freddie Mac -- two government-backed mortgage companies whose buying and guaranteeing of risky mortgages contributed to the Great Recession -- are now able to contribute to the National Housing Trust Fund. The fund was created in 2008 to support affordable housing initiatives nationwide but had laid dormant until now, as the Federal Housing Finance Agency (FHFA) announced in December that "both [Fannie Mae and Freddie Mac] are financially fit" to contribute. The two organizations were barred from setting aside money for the fund previously due to the financial crisis. While the fund falls short of solving America's shortage of affordable housing, it's a welcome step advocates across the country have been waiting for, TakePart reported.

BING NEWS:
  • Fannie And Freddie Detail 2023 Activities In Annual Report
    Released this week, the report outlines what Fannie Mae, Freddie Mac and the Federal Home Loan Banks did in 2023 to accomplish their missions. “FHFA maintains a keen focus on ensuring the entities we ...
    04/17/2024 - 1:00 pm | View Link
  • Freddie Mac inks new guidelines in anti-fraud push
    Freddie Mac is targeting fraud as the agency continues to investigate or ban business with investors, title insurers and brokers ...
    04/16/2024 - 2:42 am | View Link
  • AHF’s Latest Issue Reveals Top Lenders, Examines Housing for At-Risk Young Adults
    In the issue’s other main story, AHF unveils its annual Top 25 Lenders list, which is topped by Citi Community Capital. Lenders look at the year ahead and share why they hope to make more deals in ...
    04/8/2024 - 12:18 am | View Link
  • More

 

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